PRESS DIGEST - Wall Street Journal - July 29

Mon Jul 29, 2013 12:56am EDT
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July 29 (Reuters) - The following are the top stories in the Wall Street Journal. Reuters has not verified these stories and does not vouch for their accuracy.

* The Obama administration increasingly fears that Egypt's military, ignoring American appeals, is deepening a crackdown that could spark a sustained period of instability and lead members of the country's Muslim Brotherhood to take up arms. ()

* Advertising giants Omnicom Group Inc and Publicis Group SA said on Sunday that they had agreed to merge in a $35.1 billion cross-border linkup that shows how Big Data is making Madison Avenue look more like Wall Street. ()

* Retailer Saks Inc is near a deal to be bought by Hudson's Bay Co in an acquisition that is likely about high-end real estate as much as luxury clothes. A deal would give Hudson's Bay Chief Executive Richard Baker, a longtime real-estate investor, a lot of real-estate options, including a trophy property on Manhattan's Fifth Avenue. ()

* German engineering giant Siemens AG signaled it would oust Chief Executive Peter Löscher in a dramatic move that reflects growing unease among investors and the group's powerful union over the company's direction. ()   Continued...